Renault: Aramco in the capital of the future thermal division?

(Boursier.com) — The Chinese car manufacturer Geely Automobile Holdings and an oil group could become the reference shareholder of the future entity dedicated to thermal engines of Renault. This was stated by ‘Reuters’ on Wednesday, citing two sources close to the diamond group. According to ‘Le Monde’ of the day, this tanker would simply be the Saudi giant Aramco, “with whom Renault could work on post-oil and synthetic fuels”.

Renault would retain 40% of the ‘historic’ division, Geely would enter at the same level, and the Saudi colossus at 20%. Nissan would not take part in it. “The final plan is not locked and other avenues exist for partner builders”, said one of the agency’s sources yesterday.

Renault is to detail in the fall during a “capital market day” its project aimed at creating within it an electrical pole based in France, and another based abroad and bringing together sites of gasoline engines and transmissions and hybrids in Spain, Portugal, Turkey, Romania and Latin America. If Renault intends to remain the majority shareholder in its “Ampère” electrical division, which will employ around 10,000 people and which it could list on the stock market in the second half of 2023, it plans to remain the only reference shareholder of its “Horse” thermal entity, which will have a similar workforce.

By sharing the costs of a gasoline activity that is still dominant, but is set to decline rapidly over the decade, particularly in Europe, due to changes in regulations, Renault hopes to free up funds to reinvest in electrics, a technology whose he was a pioneer with Nissan and Mitsubishibut where it is now eclipsed by “pure players” like You’re here. The arrival of an oil group in the thermal entity would also help the development of green hydrogen and the infrastructures required for this other revolution that the automotive sector will experience alongside battery electricity, added one of the sources. .